Market Overview

IDT and PLX Technology Agree to Terminate Merger Agreement

Related IDTI
Mid-Afternoon Market Update: Dow Rises Over 150 Points; Kohl's Shares Decline On Weak Forecast
Mid-Day Market Update: Integrated Device Technology Jumps On Upbeat Earnings; Twitter Shares Decline

Integrated Device Technology
(NASDAQ: IDTI) and PLX Technology (NASDAQ: PLXT) today announced that they have mutually agreed
to terminate their merger agreement pursuant to which IDT would acquire
PLX Technology. Concurrently, IDT also announced that it is withdrawing
its related exchange offer to acquire all of the issued and outstanding
shares of common stock, $0.001 par value, of PLX Technology and
instructed Computershare, the exchange agent for the exchange offer, to
promptly return all previously tendered shares. As of the close of
business on December 19, 2012, 21,876,215 shares were previously

See full press release

Posted-In: News Guidance Contracts Management M&A Global

 

Related Articles (IDTI + PLXT)

Around the Web, We're Loving...

Get Benzinga's Newsletters